US set to overtake Russia as world's largest oil producer by 2019

The US is set to overtake Russia as the world’s largest oil producer by 2019 at the latest, the International Energy Agency predicts, as the country’s shale oil boom continues to upend global markets.The latest forecast from the IEA predicts that US output will grow next year to 11.8 million barrels a day, rising to 10.8m bpd in 2018.